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First Bancorp/NC - FBNC STOCK NEWS

Welcome to our dedicated page for First Bancorp/NC news (Ticker: FBNC), a resource for investors and traders seeking the latest updates and insights on First Bancorp/NC stock.

First Bancorp (NASDAQ: FBNC) is a distinguished bank holding company headquartered in Southern Pines, North Carolina. Since its inception in 1935, First Bancorp has steadfastly provided customer- and community-centric financial services, earning accolades such as being named one of the best small business lending banks by Entrepreneur and recognized for its small business checking account by WalletHub. First Bancorp's operational arm, First Bank, operates 118 branches across North Carolina and South Carolina, offering a wide range of services including commercial and consumer banking, mortgage lending, SBA lending, accounts receivable financing, and investment advisory services.

In recent strategic moves, First Bancorp acquired GrandSouth Bancorporation on January 1, 2023, adding $1.02 billion in loans and $1.05 billion in deposits to its portfolio. This acquisition contributed significantly to the company's growth, complementing its organic loan growth of $341.8 million year-to-date as of September 30, 2023. In its latest financial results for the quarter ending March 31, 2024, the company reported net income of $25.3 million, or $0.61 per diluted share, showcasing consistent performance in a competitive market.

First Bancorp continues to maintain a robust financial position with total assets amounting to $12.1 billion as of March 31, 2024. The company's commitment to maintaining strong credit quality and a diversified deposit base is evident, with non-interest-bearing deposits comprising 33% of total deposits. Asset quality remains solid, evidenced by low levels of nonperforming assets and annualized net loan charge-offs of just 0.08%.

The company has demonstrated resilience in adapting to market conditions, focusing on optimizing its balance sheet by enhancing liquidity and capital. As of the first quarter of 2024, First Bancorp reported a total liquidity ratio of 31.4% and an estimated total risk-based capital ratio of 15.85%, reflecting its strong financial health and strategic management of resources.

First Bancorp's community involvement is exemplified by initiatives such as the

News

First Bancorp Announces Cash Dividend

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First Bancorp (FBNC) declares a cash dividend of $0.22 per share for shareholders, highlighting strong capital and liquidity despite industry challenges. The company's total assets amount to approximately $12 billion, with operations in North and South Carolina.
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FIRST BANK AWARDED GREENWICH EXCELLENCE AWARDS IN SMALL BUSINESS BANKING

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First Bank receives multiple 2023 Greenwich Excellence Awards for Small Business Banking, including national and regional recognition for overall satisfaction and likelihood to recommend. President Adam Currie emphasizes the bank's commitment to small businesses in the Carolinas and community impact.
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First Bancorp Reports Fourth Quarter and Annual Results

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First Bancorp (FBNC) reported net income of $29.7 million for Q4 2023, compared to $38.4 million in Q4 2022. The acquisition of GrandSouth impacted financials, contributing $1.02 billion in loans and $1.05 billion in deposits. Net interest income decreased by 2.2% and net interest margin declined to 2.88%. The Company recorded a $3.4 million provision for loan losses in Q4 2023. Total assets increased to $12.1 billion, representing a 14.0% growth from the previous year.
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First Bancorp Announces Cash Dividend

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First Bancorp (NASDAQ: FBNC) declares a cash dividend of $0.22 per share, payable on January 25, 2024, to shareholders of record as of December 31, 2023. The bank holding company, with total assets of approximately $12 billion, operates 118 branches in North Carolina and South Carolina. First Bancorp's CEO, Richard Moore, emphasized the importance of providing a return to shareholders amidst industry challenges.
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First Bank and NCHBA Partner to Bring Copies of The House That She Built Book to Elementary Students Throughout North Carolina

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First Bank (NYSE: FBNC) donates $15,000 to distribute The House That She Built Book to NC elementary schools
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FIRST BANK ANNOUNCES STRATEGIC LEADERSHIP CHANGES

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First Bank (NASDAQ: FBNC) Announces Executive Leadership Changes to Drive Strategic Vision. Adam Currie named President, assuming operational responsibilities for all activities. Elizabeth Bostian to lead financial management and Human Resources. Mike Mayer continues as CEO and President of First Bancorp. The changes aim to maintain nimbleness, innovation, and forward-thinking, aligning with the bank's recent accolades and strategic focus on legacy continuation.
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FIRST BANK HOSTING BANK-WIDE FOOD DRIVE IN NOVEMBER 2023

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First Bank (FBNK) to Host Largest Food Drive in Company History, Involving 1400 Employees and 120 Locations
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First Bancorp Reports Third Quarter Results

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First Bancorp announces net income of $29.9 million for Q3 2023, compared to $29.4 million in Q2 2023 and $37.9 million in Q3 2022. Net income for the nine months ended September 30, 2023, was $74.5 million, compared to $108.5 million in the same period of 2022. Loans grew by $129.4 million in Q3 2023, with an annualized growth rate of 6.5%. Noninterest-bearing demand accounts remained strong at 34% of total deposits. Credit quality remained strong with a nonperforming assets ratio of 0.32%. Net interest income decreased by 0.7% compared to Q3 2022, and net interest margin declined to 2.97% from 3.40% in Q3 2022 due to rising market interest rates. The Company recorded $1.2 million in provision for loan losses in Q3 2023. Total noninterest income decreased by 10.3% in Q3 2023.
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First Bancorp Announces Cash Dividend

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First Bancorp declares cash dividend of $0.22 per share, maintaining strong capital and liquidity.
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FIRST BANK'S OUT OF THIS WORLD EDUCATOR AWARDS IS BACK - NOMINATIONS OPEN

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First Bank (FBNC) honors 'Out of this World Educators' in the Carolinas, with nominations open for outstanding educators to receive $5,000 each. The awards are part of the Power of Good program, doubling its giving goal to $1,000,000 in 2023 and focusing on education, food scarcity, affordable housing, and health and financial education and wellness.
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FAQ

What is the current stock price of First Bancorp/NC (FBNC)?

The current stock price of First Bancorp/NC (FBNC) is $44.69 as of December 20, 2024.

What is the market cap of First Bancorp/NC (FBNC)?

The market cap of First Bancorp/NC (FBNC) is approximately 1.8B.

What services does First Bancorp provide?

First Bancorp offers commercial and consumer banking, mortgage lending, SBA lending, accounts receivable financing, and investment advisory services.

Where is First Bancorp headquartered?

First Bancorp is headquartered in Southern Pines, North Carolina.

What were the financial highlights for First Bancorp in the latest quarter?

For the quarter ending March 31, 2024, First Bancorp reported net income of $25.3 million, or $0.61 per diluted share.

How has First Bancorp expanded its operations recently?

On January 1, 2023, First Bancorp acquired GrandSouth Bancorporation, adding $1.02 billion in loans and $1.05 billion in deposits.

What is First Bancorp’s total asset value as of the latest reports?

As of March 31, 2024, First Bancorp’s total assets amounted to $12.1 billion.

How many branches does First Bank operate?

First Bank operates 118 branches across North Carolina and South Carolina.

What recognition has First Bancorp received?

First Bancorp has been named one of the best small business lending banks by Entrepreneur and recognized for its small business checking account by WalletHub.

What was the purpose of the recent food drive organized by First Bank?

The food drive, named "Power of Good Food Drive," was held in honor of a dedicated associate to combat food insecurity.

How does First Bancorp manage its capital and liquidity?

First Bancorp maintains a strong capital position with a total risk-based capital ratio of 15.85% as of March 31, 2024, and a total liquidity ratio of 31.4%.

What is the current stock symbol for First Bancorp?

First Bancorp’s common stock is traded on The NASDAQ Global Select Market under the symbol "FBNC."

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First Bancorp/NC

Nasdaq:FBNC

FBNC Rankings

#2032 Ranked by Market Cap
#1409 Ranked by Dividends

FBNC Stock Data

1.82B
39.84M
3.68%
68.06%
1.79%
Banks - Regional
State Commercial Banks
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United States of America
SOUTHERN PINES